This CPE course will help you recommend tax positions given the Internal Revenue Service focus on S corporations. This course is highly useful during annual tax planning for the closely-held business operating (or considering operating) as an S corporation. Proven tax-planning techniques are reviewed as refreshers for managers and partners.
- Basis in S Corporation Stock
- Compensation Planning
- Use of Qualified Subchapter S Subsidiaries
- Liquidations, Reorganization, and Redemptions
- Estate Planning and the Use of Trusts
- Interpret the rules relating to the adjustment of basis in stock by S corporation shareholders.
- Calculate the basis limitations on losses.
- Calculate gain/loss on the distribution of property.
- Identify the rules concerning fringe benefits received by S corporation shareholder-employees.
- Recognize when QSubs should be used.
- Identify the rules relating to the liquidation of an S corporation.
- Apply the corporate reorganization rules to S corporations.
- Calculate the tax effect of a redemption of S corporation stock.
- Determine the effect of a shareholder’s death on the S corporation.
Prerequisite: Completion of AICPA’s course S Corporations: Key Issues, Compliance, and Tax Strategies or equivalent knowledge and experience
Advanced Preparation: None